Monday, January 5, 2026

ATT Moving Out Of Dallas; They've Had Enough; The Bakken With Three New Permits; Six DUCs Reported As Completed -- January 5, 2026

Locator49811B.

Seasonal flu: apparently nationwide, seasonal flu has reached levels never seen before in the US; HHS, RFK, Jr., is anti-vaccine; and, so it goes. 

I have no dog in that fight; I've got my annual Covid and annual flu vaccine. And, yes, I know, the vaccine doesn't work.

Dallas: in an side-bar discussion with a reader a few weeks ago, I suggested that the homeless problem (illegal squatting) in downtown will herald the "end" of downtown Dallas as know it. 

The thesis: Portland and San Francisco are the poster children for illegal squatting in downtown city centers. Portland and San Francisco may not be unique with regard to that problem, but they are two peas in a pod when it comes to "acceptance." The general public in both cities accept and encourage such behavior. Period. Dot. 
So, there is a status quo / an equilibrium of illegal squatting and what the public will accept in Portlandia and San Francisco. 
My thesis: that won't happen in Texas. Texans don't / won't put up that behavior. They will simply walk away. 
Today, exhibit A: ATT has announced they are moving 6,000 employees from downtown Dallas to a suburb north of Dallas: Plano. ATT may not be the first, but it is the biggest, and it won't be the last. There will always be a "downtown" Dallas but by by 2030, if the homeless problem is not resolved, "downtown" Dallas will be empty. As if a neutron bomb was detonated in downtown Dallas. But 6,000 ATT employees being re-located to a suburb north of Dallas, to be nearer the Dallas Cowboys, speaks volumes.

********************************
Back to the Bakken

WTI: $58.14.

Active rigs: 26 -- record recent low.

Three new permits, #42609 - #42611, inclusive:

  • Operator: Formentera Operations
  • Field: Baukal Noonan (Divide County)
  • Comments: 
    • Formetera has permits for three Brady wells, NWNE 22-162-95, to be sited 331 FNL and 2245 / 2350 FEL.

Six producing wells (DUCs) reported as completed:

  • 37665, 3,834, BR, Kellogg Ranch 1A TFH, McKenzie County;
  • 40719, 672, Petro-Hunt, USA 153-95-5A-31-3H, McKenzie County;
  • 40721, 1,120, Petro-Hunt, USA 153-95-5D-31-5H, Mckenzie County;
  • 41794, 1,033, CLR, Star Federal 6-14H, Williams County;
  • 41795, 1,078, CLR, Wallace 6-1H, Williams County;
  • 41796, 1,3555, CLR, Star Federal 7-14H, Williams County;

For An Investor, Perhaps The Most Important Graphic I Will Post Today -- January 5, 2026

Locator49810GENERATIONS.

Link here


 


Observations:

  • our granddaughter, Sophia, is eleven years old; she will turn twelve years this summer;
    • in the graphic above, she's a member of the Generation Alpha generation;
    • by four years of age, she was using my iPhone "fluently"; able to change settings and alarms on my phone. I had to ask her to change them back because I did know how she did it;
    • by age eight years of age, or thereabouts, she was using my iPhone "all" the time
    • at age nine years of age, maybe ten years of age, she was given an iPad so that she could use FaceTime to talk to family members and friends -- her parents did not want her to have a "phone"
    • FaceTime was only available if she had wi-fi;
    • FaceTime limited her "calls" to mostly her family;
    • she had been using an iPad at school for several years by this time, so her own iPad was awesome
    • her parents said she would not get her own iPhone until she was 18 years old
    • Christmas, 2025, age 11 years old, Sophia got a purple, iPhone 17 

More later.

Agentic AI -- Working Autonomously -- Boston Dynamics Atlas Teaches Himself -- Robots -- January 5, 2026

Locator49809ATLAS.

Link here

Link here

Nvidia, Apple, N2, 2NM, TSMC, Supply Chain -- January 5, 2026

Locator49808N2.

Yesterday I posted: 

Which then leads immediately to this AI prompt: 

With regard to an earlier conversation -- the queue for "memory" with a focus on Nvidia and Micron -- where to you think Amazon Web Services (AWS) ranks in the queue for memory?

 An absolutely fascinating discussion. Link here.

*****************************
Exhibit A

Link here.  

A very, very long tweet.

The lede:


This also explains why Apple keeps a lot of cash on hand. Apple is known for paying up front, paying on time, always making good on their promises to suppliers. There's a reason why Apple's supply chain is #1 in tech, along with Nvidia. 

TSMC's N2 technology / 2nm (N2):


Apple's position as a core 2nm customer:


 Nvidia's interest and AI angle:

Could Trump $1-Coins Go Into Circulation? January 5, 2026

Locator49807COINS.

Link here

AI prompt: has a coin for general circulation with current serving president ever been released?

Simple majority: all that's needed by US Congress to pass the bill to authorize a commemorative coin. 

My hunch: if the US Congress does not authorize a $1-Trump coin along with all other presidential coins for the occasion, one of two things will happen (or both):

  • short term: Venezuela will mint a $1-Trump coin as will any other number of banana republics;
  • the moment he's out office, the US Mint will mint that coin.

Might the US mint a $5 silver coin with Trump's likeness on it? 

*****************************
Meanwhile



 

Gold: Up $92 / Ounce In Pre-Market Trading -- January 5, 2026

Locator49806GOLD.

Labor market: clearly cooling -- the "Fed's" Kashkari.

Bullion:

  • gold: up 2.5%, up almost $100; trading at $4,427;
  • silver: up 5% , up $3.50; trading at $75.

Airlines: this is really, really, really cool. After successful test at DFW, American Airlines will expand program to delay flights to help those with missed connections. How can they do this? Because of AI. This was first reported some time ago, but now it's getting increased exposure. 

Intel (INTC) vs Micron (MU): five-year comparison -- 


 Intel (INTC) vs Micron (MU): one-year comparison -- 

Foxconn: 22% Revenue Surge; Tops Expectations -- January 5, 2026

Locator49805FOXCONN.

Foxconn, link here.

CAT -- January 5, 2026

 Locator49804CAT.

CAT becomes the best performer of the Dow for calendar year 2025. Link here

We don't see this too often.  




**********************************
Disclaimer
Brief Reminder 

Briefly:

  • I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
  • I am inappropriately exuberant about the US economy and the US market.
  • I am also inappropriately exuberant about all things Apple. 
  • See disclaimer. This is not an investment site. 
  • Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
  • If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
  • Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market.
  • I am also inappropriately exuberant about all things Apple. 
  • And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution.
  • I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom.
  • Amazon has now replaced BRK in my portfolio for any new money; Amazon has taken the role of BRK in my my portfolio. AMZN is not a new position; it's been in the portfolio for quite some time.
  • Longer version here

The Blog's Disclaimer -- Briefly -- January 5, 2026

Locator49803VENEZUELA.
Locator49803DISCLAIMER.

Public school, north Texas: whoo-hoo! The 2026 - 2027 Christmas / New Year's break is identical to this year's (2025 - 2026) break -- 

  • GCISD, north Texas, suburb of Ft Worth; from the Friday preceding Christmas through the Wednesday following New Year's Day. 
  • for the break, early release, Friday, December 18, 2026, and return to school on Wednesday, January 6, 2027. Nineteen full days of break. Also, one extra shopping day for Christmad. Christmas, 2026, falls on a Friday. Whoo-hoo!  

Chevron: says it is focused on the safety of its 3,000 employees in Venezuela and the integrity of its assets. One can assume, Chevron will request US military assistance if necessary. Unlike ICE in Portland, Chicago, and Los Angeles, the country of Venezuela will have little say on this. In addition, I don't think Judge Boasberg has any "jurisdiction" in Venezuela although it's possible he has cousins in Venezuela who are judges.  

Iraq: by the way, what was the reason for the US (and a gazillion allies) going into Iraq some years ago? Oh, that's right. Regime change. Bay of Pigs? Oh, that's right, regime change. Pressure on Iran? Oh, that's right. The Spanish-American war? Oh, that's right.

Chuck Schumer: "Congress has some questions. That's all I've got." 

AI: I notice the doofus who was predicting the demise of Nvidia in his never-ending commercials, is no longer seen during CNBC breaks.  

**********************************
Disclaimer
Brief Reminder 

Briefly:

  • I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
  • I am inappropriately exuberant about the US economy and the US market.
  • I am also inappropriately exuberant about all things Apple. 
  • See disclaimer. This is not an investment site. 
  • Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
  • If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
  • Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market.
  • I am also inappropriately exuberant about all things Apple. 
  • And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution.
  • I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom.
  • Longer version here.    

 *******************************


Note For Extended Family Members -- Not For General Audience -- January 5, 2026

Locator49802DISCLAIMER.
Locator49802INVESTING.

**********************************
Disclaimer
Brief Reminder 

Briefly:

  • I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
  • I am inappropriately exuberant about the US economy and the US market.
  • I am also inappropriately exuberant about all things Apple. 
  • See disclaimer. This is not an investment site. 
  • Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
  • If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
  • Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market.
  • I am also inappropriately exuberant about all things Apple. 
  • And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution.
  • I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom.
  • Longer version here.    

 *******************************
Personal Investing

As of today, I am discontinuing any new money going into BRK.

Amazon now replaces the role BRK had in my personal portfolio. 

Absolute Resolve -- January 5, 2026

Locator49801VENEZUELA.

From AI:


Night stalkers

Helicopters:


Guys and gals
:


Helicopters
: landing a helicopter on land is trickier than landing a fixed wing a/c, in general. Landing a helicopter on a rocking/rolling a/c carrier optimized for helicopters is many times more challenging. Landing on converted cargo ships -- priceless. 

Not one helicopter lost; not one US fatality. A handful of minor combat-related injuries, all whom will receive a Purple Heart. I hope some of the medals are given by Trump and televised.

A DEI initiative under Joe Biden? This was asked tongue-in-cheek, but I wasn't too far off, and the answer was incredibly interesting. One of Obama's best decisions, but I was flying with female aviators throughout my 30-year USAF career. 

Is Trump batting "a thousand"?

  • Hamas / Gaza;
  • Iran nuclear facilities;
  • Venezuela, first wave. 
  •  

From The X-Files -- January 5, 2026

Locator49800ARCHIVES.

Trump: hasn't had a full-night's sleep in 360 days. In the last 72 hours, it's probably been less. Less sleep. Susie Wiles must be having the time of her life managing Mr Trump's tweets, phone calls, Oval Office visits, press conferences, and spontaneous interviews while traveling. 

Venezuela: the Pentagon and Southern Command are refining plans for a second wave.  

Absolute Resolve: Southern Command and US Army's Delta Force (1st Special Forces Operational Detachment. 

Vanderbilt: women's basketball, LSU defeated, 65 - 61. for the first time since ethe 2008 - 2009 season, The Commodores take down a top-five opponent in Memorial Gymnasium. Whoo-hoo. Link here

Musk: providing free broadband service -- Starlink -- to all Venezuelans through February 3, 2026. Link here.

Shay: Amazon, link here.

Shay: the e8ght layers of the real-world AI boom. Link here

Manic Monday -- January 5, 2026

Locator49799B.

Trump Center For The Performing Arts: new name for the Maduro Center.

CNBC: let's see how long it takes for Becky Quick to mention CVX. 

Note: I am limiting myself to ten minutes per day to CNBC, as noted earlier. Today I will add ten minutes to total twenty minutes -- ten minutes with Joe Kernen and ten minutes with Jim Cramer.

  • it's already turned political, three minutes into Squawk Box and I'm done with CNBC this morning until Jim Cramer for ten minutes.
  • the last two people I need to listen to this morning: Eamon Javers, Andrew ROSS Sorkin.

*********************************
Back to the Bakken

WTI: $57.37 (unchanged from last week).

New wells reporting:

  • Tuesday, January 6, 2026: 12 for the month, 12 for the quarter, 12 for the year,  
    • None.
  • Monday, January 5, 2026: 12 for the month, 12 for the quarter, 12 for the year, 
    • 40620, conf, KODA Resources, Amber 1336-8BH,
  • Sunday, January 4, 2026: 11 for the month, 11 for the quarter, 11 for the year, 
    • None.
  • Saturday, January 3, 2026: 11 for the month, 11 for the quarter, 11 for the year, 
    • 40619, conf, KODA Resources, Amber 1336-7BH, 

RBN Energy: the broad impacts of the big inflection point for natural gas. Link here. I vividly remember the day some years ago when I posted the projected buildout of the LNG export terminals/facilities along the Texas/Louisiana coast and someone wrote to tell me that not all of them would be built. Archived.

Sure, natural gas markets have experienced plenty of changes over the past few years. Rising associated gas production in the Permian. New pipeline and storage capacity. New LNG demand. Pricing ups and downs. But we’d argue that all this was merely a prelude. That the main event — a veritable transformation of gas markets, especially along the Gulf Coast — is about to begin. A doubling of LNG demand (to 32 Bcf/d!). Another 10 Bcf/d of new pipelines out of West Texas, plus at least 15 Bcf/d more along the coast. Production revivals in the Haynesville and the Eagle Ford. And don’t forget soaring demand for gas-fired power generation. In today’s RBN blog, we discuss the massive, market-transforming changes just ahead — and our upcoming GasCon 2026 conference, which is hyper-focused on this market-shifting inflection point.

With all the announcements in 2022-25 — upstream and midstream consolidation, new pipelines and storage projects, new LNG export terminals, etc. — you’d be tempted to think this has been a period of extraordinary change. And you’d be right. But the fact is, the past few years in the U.S. natural gas market have really been just a teaser, a preview, an appetizer. Now, finally, all the planning and shifting is coalescing. A major, five-year ramp-up in LNG capacity is beginning in earnest. Soaring gas demand along the Gulf Coast will support stronger gas prices and, with that, more drilling and production, not just in the Permian but the Haynesville, the Eagle Ford and, very likely, other basins further afield. And to connect the supply and demand, new multi-Bcf/d pipelines will be coming online and storage projects will be developed.

Let’s begin with the demand angle, because, despite being spurred by natural gas supply pushing out of basins like the Permian, it’s going to be the primary driver behind the upcoming market transformation. RBN’s Arrow Model, which closely monitors the planned addition of new LNG export capacity, projects that feedgas demand from LNG terminals in Texas will soar from “only” 4.5 Bcf/d in 2025 to 8.8 Bcf/d in 2027 and about 16 Bcf/d nine years from now. LNG feedgas demand in Louisiana is projected to rise more gradually, from an already hefty 10.6 Bcf/d in 2025 to 11.7 Bcf/d in 2027 and ~16 Bcf/d in 2035. (Figure 1 below shows the planned additions.) Liquefaction-train commissioning is underway at Plaquemines LNG (already consuming 3.9 Bcf/d on average in December), Golden Pass LNG and Corpus Christi LNG Stage III, with more to follow at these export terminals and others the next couple of years. Still more are on the way: Over the past 12 months, no fewer than six Gulf Coast LNG projects with a combined capacity of 61 MMtpa (8.1 Bcf/d) reached a final investment decision (FID): trains 4 and 5 at Rio Grande LNG, a two-train expansion at Port Arthur LNG, a small expansion at Corpus Christi Stage III, and two entirely new terminals (Venture Global’s CP2 and Woodside’s Louisiana LNG).

Figure 1. Gulf Coast LNG export capacity. Source: RBN


 

Pre-Market -- The First Trading Day After Venezuela's Liberation Day -- January 5, 2026

Locator49798INVESTING.

Chevron: link here


Pre-Market -- The First Trading Day After Liberation Of Venezuela -- January 5, 2026

Locator49797INVESTING.

Copper: up 6%. 

Oil-related:




Tech:

 



 

Other: